Page 232 - Index

Standalone
18. of India in terms of section 143(11) of the Act we
give in the Annexure I a statement on the matters
specified in paragraphs 3 and 4 of the Order, to the
extent applicable.
Further to our comments in Annexure I, as required by
section 143(3) of the Act based on our audit, and on
the consideration of the reports of the branch auditors
as referred to in paragraph 15 above, we report, to the
extent applicable, that:
a) b) c) d) e) f) g) We have sought and obtained all the information
and explanations which to the best of our
knowledge and belief were necessary for the
purpose of our audit of the accompanying
standalone financial statements;
In our opinion, proper books of account as required
by law have been kept by the Company so far as it
appears from our examination of those books and
proper returns adequate for the purposes of our
audit have been received from the branches not
visited by us;
The reports on the accounts of the branch offices
of the Company audited under section 143(8) of
the Act by the branch auditors have been sent
to us and have been properly dealt with by us in
preparing this report;
The standalone financial statements dealt with
by this report are in agreement with the books of
account and with the returns received from the
branches not visited by us;
In our opinion, the aforesaid standalone financial
statements comply with Ind AS specified under
section 133 of the Act;
On the basis of the written representations
received from the directors and taken on record
by the Board of Directors, none of the directors is
disqualified as on 31 December 2024 from being
appointed as a director in terms of section 164(2)
of the Act;
With respect to the adequacy of the internal
financial controls with reference to financial
statements of the Company as on 31 December
2024 and the operating effectiveness of such
controls, refer to our separate report in Annexure
II wherein we have expressed an unmodified
opinion; and
h) With respect to the other matters to be included
in the Auditor’s Report in accordance with rule 11
of the Companies (Audit and Auditors) Rules, 2014
(as amended), in our opinion and to the best of
our information and according to the explanations
given to us and based on the consideration of the
reports of the branch auditors as referred to in
paragraph 15 above:
i. the Company, as detailed in note 37 to
the standalone financial statements,
has disclosed the impact of pending
litigations on its financial position as at 31
December 2024;
ii. the Company did not have any long-term
contracts including derivative contracts for
which there were any material foreseeable
losses as at 31 December 2024;
iii. there has been no delay in transferring
amounts, required to be transferred, to the
Investor Education and Protection Fund
by the Company during the year ended 31
December 2024;
iv. a. The management has represented
that, to the best of its knowledge and
belief, as disclosed in note 50(viii) to the
standalone financial statements, no
funds have been advanced or loaned or
invested (either from borrowed funds or
securities premium or any other sources
or kind of funds) by the Company to or
in any person(s) or entity(ies), including
foreign entities (‘the intermediaries’),
with the understanding, whether
recorded in writing or otherwise,
that the intermediary shall, whether,
directly or indirectly lend or invest in
other persons or entities identified
in any manner whatsoever by or on
behalf of the Company (‘the Ultimate
Beneficiaries’) or provide any guarantee,
security or the like on behalf the
Ultimate Beneficiaries;
b. The management has represented
that, to the best of its knowledge and
belief, as disclosed in note 50(ix) to
the standalone financial statements,
no funds have been received by
230 Annual Report 2024